(MENAFN) According to a leading think tank, South Korea's economic growth is predicted to slow this year on slumping exports and weak consumer spending, Yonhap News reported.
Asia's fourth-largest economy will expand 3 percent in 2015, down from the 3.3 percent growth registered last year, the LG Economic Research Institute said in its released report.
The country's current-account surplus is forecast to stand at USD120 billion in 2015, up 34.1 percent from the USD89.42 billion posted a year earlier, due mainly to a drop in imports.
"The value of exports is feared to drop this year from 2014 due to slowing emerging economies and more intense competition. Consumer spending is unlikely to pick up fast," it said.
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